Oil production in Argentina was the highest in 11 years

By : Dr. Franyi Sarmiento, Ph.D., Inspenet, March 21, 2022.

With a total of approximately 571 thousand barrels per day, the total production of oil in February marked a new growth surpassing that of January. It is the highest number since December 2011. The unconventional segment represented 39% of the total: 222 thousand barrels per day.

The Secretary of Energy, Darío Martínez, stated that “(…) we are promoting the productive development of the sector and achieving great results. We surpassed the production of January, which had been the highest since 2011, and we are going to continue working so that it continues to grow.”

Oil production has already definitively recovered from the pandemic and in February marked a year-on-year growth of 14%. The increase is driven by the unconventional segment that grew 55% compared to the same month last year.

Darío Martínez explained that “These production levels are very important for the country, especially at this time when the global energy crisis resulting from the war is going to affect everyone, including Argentina.”

Last January, Argentina’s total oil production had reached 570,000 barrels per day, becoming the highest since December 2011. With the approximate 571 thousand barrels produced in February, the growth trend in the sector is confirmed.

“Hydrocarbon activity is central to the country’s growth, it generates jobs, more SMEs that join and more development of regional economies” concluded the Secretary of Energy.

In reference to gas, production remained practically stable in relation to January, which was a month with a historical record for unconventional production. During February, 11% more total gas and 38% more unconventional gas were produced compared to the same month last year.

This material from the Official Portal of the Argentine State was edited for clarity, style and length.

Source: Official website of the Argentine State. “ Oil production was the highest in 11 years”. Under a Creative Commons Attribution 4.0 International license. Link : https://www.argentina.gob.ar/noticias/la-produccion-de-petroleo-fue-la-mas-alta-en-11-anos